I figure I’ll share this short-term approach and maybe this will be helpful for some plebs. This is not financial advice. In fact, if you listen to me, you should probably get yourself checked out by a professional, no one should take advice from anon pleb on Reddit. And for those that choose to continue from here, well, here is my short-term strategy.
1st off I always continue my small DCA, every single day.
But I also like to BTFD! and over the next several months I'm going to try and build up a little extra powder to keep on the sideline for the next potential dip. In my opinion we should be entering the beginning of a bull right now, 3 months in a row UP, record number of corn not moving from cold storage (+60%), The energy sector getting into mining, (Shell is a sponsor to BTC Miami this year!), closing in on the next halving. So much bullishness. And we probably will go up for a while.
So, why do I believe there will be another dip? As we are all aware, markets are likely going to absolute shit. The talk coming out of the FED as of yesterday is, "small recession". Has the FED ever once admitted there could be a recession on the horizon? (Seriously I can't think of a single time, and I've seen a few of these over my years). This screams to me, it could be a nasty one.
What happens during these types of credit events? Risk-off, and unfortunately our corn gets tossed around by the wall street jerks offs as a risk asset. This is why I think we're going to witness another dip. These wall street bros still don’t know what they hodl in the world’s most scarce asset EVER.
How do you time the bottom? Get your magic 8-ball out and every 4 hours ask it, are we at the bottom yet? But for those of us that know timing the bottom is impossible; I use limit orders. I’ll buy it all the way down. For example, I will divide my powder up and set a buy to trigger at $28,000, $27,000, $26,000… you get the idea. If you still have a little extra fiat trash and our corn starts to climb again, maybe consider upping your DCA amount a bit while we head back up.
So that’s it, my simple game plan to acquire a bit more corn at an opportunity we will likely never see again. The window to BTFD might be very small and I am a true believer the next time we run into a Bitcoin Bull; it’ll rip faces! LFG! 1 BTC = 1 BTC
Note: If you are thinking of selling and buying back in lower, you’re an idiot, you still don’t understand Bitcoin and I hope myself and all the diamond hand hodling psychopaths acquire all your corn.
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